INSURANCE NEWS
Miner Glencore Faces Raft of Class-Action-Style Lawsuits in UK After Admitting Bribery
Glencore Plc faces a raft of class-action style lawsuits from investment and pension funds in the UK, months after the mining giant pleaded guilty to market manipulation and bribery. Mubadala Investment Company and International Petroleum Investment Company are among over …
Louisiana Insurance Commissioner Approves Citizens Rate Increase of 63%
Louisiana Insurance Commissioner Jim Donelon approved a significant rate hike for Louisiana Citizens residential property insurance policies, a move the insurance department blamed on rising costs of reinsurance. Donelon approved Citizens’ request for a 63% rate increase, which will go …
Air France, Airbus Execs Plead Not Guilty to Involuntary Manslaughter for 2009 Crash
A French criminal court opened the historic manslaughter trial of Air France and planemaker Airbus on Monday, with angry relatives demanding justice 13 years after an A330 jetliner plowed into the Atlantic, killing all on board. The heads of both …
Mutual of Omaha $600 Million Skyscraper to be Town’s Tallest Building
Omaha will have a new tallest building once Mutual of Omaha completes its planned $600 million headquarters tower downtown in 2026. Mutual CEO James Blackledge told the Omaha World-Herald that it recently became clear that the insurance company’s new skyscraper …
ExxonMobil Ordered to Reinstate, Pay $800,000 in Back Wages to Employees Who Leaked Info
The U.S. Department of Labor’s Occupational Safety and Health Administration ordered ExxonMobil Corp. to immediately reinstate two employees and pay them more than $800,000 in back wages, interest and compensatory damages. A federal whistleblower investigation found the company terminated them …
Lloyd’s Finds No Evidence of Data Compromise From Cyber Attack
Lloyd’s of London said on Monday that its investigation into a possible cyberattack had found no evidence of data compromise. “The investigation has concluded that no evidence of any compromise was found and as such Lloyd’s has been advised that …
Crews Battling Paper Mill Fire in Michigan’s Upper Peninsula
Crews from several fire departments were still battling a fire Monday that broke out late last week at a paper mill in Michigan’s Upper Peninsula. A spokesman for Resolute Forest Products said the fire, which was producing a dense cloud …
Information Expected to Emerge Slowly in Hospital Chain Cyberattack
Details of an apparent cyberattack on one of the largest health systems in the U.S. were slow to emerge as security experts on Oct. 7 warned that it often takes time to assess the full impact on patients and hospitals. …
Mississippi River Reopens to Barge Traffic After Low Water Closures
Two stretches of the southern Mississippi River were reopened to commercial traffic over the weekend after dredging operations deepened the shipping channel near Memphis, Tennessee, and near Stack Island, Mississippi, the U.S. Coast Guard said on Monday. The major shipping …
California Doctor Admits Illegally Prescribing 120K Opioid Pills
A Southern California doctor has pleaded guilty to writing prescriptions for more than 120,000 opioid pills over a six-year span, including to an impaired driver who struck and killed a bicyclist, federal prosecutors said. In his plea agreement, Dr. Dzung …
Insurers’ Claims Investigation Work Product Protected After Alabama High Court Ruling
A company cannot be compelled to turn over its risk management work product that may include attorney-client information and claims investigators’ opinions, the Alabama Supreme Court decided. The case involved the Federal Employers’ Liability Act (FELA), which applies mostly to …
Discriminatory Policing suit Against Virginia Town to Go Forward
A lawsuit against a Virginia town that alleges its police department has operated in a way that led to unlawful racial discrimination and violated individuals’ constitutional rights can move forward, a judge ruled Thursday. The Office of the Attorney General …